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Episode 368 | Got Stung By A Spruiker: Restarting After Ten Years of Property Mistakes – Chat with Michael

“I read enough book to make me dangerous”

That’s the quote from our special guest today.

 

A thirst for knowledge is an excellent virtue to have but in some cases, you might encounter information overload… Or in other rare cases, you might be reading the wrong books or getting advice from mentors with hidden agendas.

Unfortunately today’s Summer Series guest, Michael, is in the latter category.

Folks, if you had been stung by a spruiker before, you’d know that it’s not easy getting back on the property ladder and, even more so trusting another so called property professionals.

But Michael did.

Despite being a victim of opportunity cost, he did not let that deter him at all. In fact, he learned from each experience, good and bad, and stood up to the challenge, stronger and more motivated than ever.

But…

How did he recover from all the bad purchases? (Yes, there were a few!)

Tune in for all those and more folks because his true story starts waaaaay before he bought the first investment stock property 😉

 

Free Stuff Mentioned

 

Here’s what we cover…

  • 1:17 – Meet Michael.
  • 1:58 – What is it like growing up in a caravan park…?
  • 4:41 – “I knew (money) was tight I suppose but…”
  • 6:47 – Why was building his own first house at 20 his first mistake?
  • 9:55 – Setting up his finances on his own!
  • 11:35 – When did the drive to own his own home begin?
  • 12:33 – What happened when he was 21 that taught him the biggest money lesson ever?
  • 13:43 – His fortnight spreadsheet updates!
  • 16:05 – The discovery of Money SMARTS
  • 17:02 – How having a goal changed his habits and mindset?
  • 18:57 – “That’s the other thing, I’ve done everything wrong” – The mistakes that made him realised that he couldn’t do it alone
  • 19:20 – Here’s when the spruiker story begins!
  • 21:26 – What are the signs to look out for to spot a spruiker?
  • 22:50 – The 10 Year Property Journey that changed his life
  • 27:05 – Why did he decide to pay for professional advice?
  • 29:50 – When reading too much is dangerous…
  • 33:37 – What should you expect from a great property advisor?
  • 36:35 – Get your partner on board!
  • 37:50 – What does planning for the future looks like?
  • 39:22 – What convinced him to let go of his spreadsheets?
  • 41:00 – His end game and the #1 advice for others

 

 

Note: There are more real-life investor stories like this in our Previous Summer Series! Make sure you check them all out here.

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